【US Pre-Market】Boeing Gains Nearly 3%, Moderna Slumps Pre-Market as Market Focuses on PCE and Micron Earnings
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On Wednesday, September 30, Eastern Time, U.S. stock index futures traded near flat as investors awaited key economic data, including employment, PCE inflation, and GDP figures, which could influence Federal Reserve rate expectations. Meanwhile, gold rose slightly on a weaker dollar, oil rebounded amid supply risks, and Bitcoin remained below $85,000. In corporate moves, Boeing secured a major U.S. Navy fighter contract, lifting its shares while weighing on rival Northrop Grumman, Moderna dropped following a rating downgrade and patent legal risks, and Robinhood advanced after unveiling new trading products at its summit.
TradingKey - On Wednesday, September 30, Eastern Time, futures on the three major U.S. stock indices weakened near flat in pre-market trading as investors awaited a dense slate of data releases, including U.S. ADP employment, PCE inflation, and final second-quarter GDP figures. Markets expect U.S. August headline PCE and core PCE to rise 0.5% and 0.3% month-over-month, respectively. Higher-than-expected data could further reinforce expectations that the Federal Reserve will continue raising interest rates and weigh on high-valuation tech stocks.
As of press time, Dow futures fell 0.01%, S&P 500 futures rose 0.02%, and Nasdaq 100 futures fell 0.1%.
Source: Investing
In commodities, gold (XAUUSD) rose slightly by about 0.15%, trading near $4,185. A weaker U.S. dollar provided support for gold prices, but high interest rate expectations continued to limit its upside potential.
International oil prices rebounded after a sharp drop in the previous trading session, with WTI (USOIL) crude recovering to near $90.60 and Brent crude (UKOIL) recovering to near $97.50. Trump denied willingness to ease sanctions on Iran, bringing supply risks back into focus; however, the resumption of operations on Saudi Arabia's East-West pipeline and a rebound in Middle East crude exports limited the extent of the oil price rally.
In cryptocurrencies, Bitcoin (BTC) rose about 0.1%, trading near $83,900, but still failed to break above the $85,000 mark. Elevated U.S. Treasury yields and cautious sentiment ahead of the inflation data release continued to suppress risk appetite for crypto assets.
Market Moves
Boeing (BA) rose about 2.6% in pre-market trading. The U.S. Department of Defense selected Boeing to design, manufacture, and deliver the U.S. Navy's next-generation F/A-XX sixth-generation carrier-based stealth fighter, with an initial contract value exceeding $20 billion. The program will gradually replace the F/A-18 "Super Hornet" and become a key component of the U.S. Navy's Next Generation Air Dominance initiative.
Northrop Grumman (NOC) fell about 4.3% in pre-market trading. The company lost to Boeing in the bidding for the U.S. Navy's F/A-XX next-generation fighter jet, sparking market concerns that it will miss out on this large-scale defense project with a long execution cycle. This result also means Boeing has secured both the U.S. Air Force and Navy sixth-generation fighter programs.
Moderna (MRNA) fell over 6% in pre-market trading. Citi downgraded Moderna to "Sell", and although it raised its price target from $60 to $80, it noted that the company's valuation is already high following the previous sharp rally in its stock price. In addition, a U.S. federal court refused to dismiss an mRNA technology patent infringement lawsuit filed by Bayer's Monsanto against Moderna, further adding to its legal risks.
Robinhood (HOOD) rose about 2.9% in pre-market trading. The company unveiled several new products at HOOD Summit 2026, including Robinhood Agents capable of market research, strategy formulation, and automated trading, a 24/7 trading plan for select U.S. stocks, crypto perpetual contracts, and extended trading hours for stock options. Among them, select crypto perpetual contracts offer leverage of up to 10x.
Market News
U.S. consumer confidence fell to a 12-year low in September. The Consumer Confidence Index published by The Conference Board dropped 6.7 points from 88.6 in August to 81.9, reaching its lowest level since April 2014.
Iran confirmed receiving a formal response from the U.S. to its latest ceasefire proposal. Iranian Foreign Minister Araghchi has briefed the Cabinet on the U.S. response, but specific details have not yet been disclosed, and intermediaries such as Qatar continue to push both sides to negotiate on ending the conflict and navigation through the Strait of Hormuz.
Micron Technology is set to report its fourth-quarter fiscal results. Micron Technology (MU) will release its earnings report after the market close on Wednesday ET and hold a conference call at 16:30. The market will focus on HBM shipments, AI server memory demand, product price trends, and guidance for the next fiscal quarter.
Key Data and Events Preview
At 8:15 ET on September 30, the U.S. releases September ADP private sector employment data.
At 8:30 ET on September 30, the U.S. releases the August PCE price index, personal income and spending, and final second-quarter GDP.
At 9:45 ET on September 30, the U.S. releases the September Chicago Business Barometer.
At 10:30 ET on September 30, the U.S. Energy Information Administration releases the weekly crude oil inventory report.
At 16:00 ET on September 30, Chicago Fed President Goolsbee delivers a speech; at 16:30, Micron Technology holds its fourth-quarter earnings conference call.
This content was translated using AI and reviewed for clarity. It is for informational purposes only.
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